Various aspects of commercial general liability insurance
General Liability Insurance also known as Commercial General Liability (CGL) is a policy that helps to cover the loss of personal body injury or the damage to the property of the company. It is the first and the basic requirement of the company because the company or the person does not want any sort of risk while running the business. So, one should definitely opt for CGL insurance to secure the company.
CGL Insurance Coverage
The commercial general liability insurance is a policy which is responsible for the cost required for legal defence as well as damages caused due to breakdown of the property and many more. This insurance coverage pays the claim to the liable person up to a particular limit known as aggregate limit as mentioned in the policy. The aggregate limit varies depending on the cost of commercial general liability insurance.The CGL Insurance covers:
Coverage 1: Bodily Injury and Property Damage Liability
This liability covers the cost of the claim when the person is bodily injured which includes physical and mental injuries as well as emotional distress. Also when there is property damage due to non-professional negligent acts during business operations, one can claim the CGL insurance. The commercial general liability insurance acts as a safe house or protection against the losses during the activity.
Coverage 2: Personal and Advertising Injury
It is responsibility of the CGL insurance to pay the loss occurred due to some sort of offences like libel, false statements, frauds or any sort of copyright issue. Also, if there is any privacy abandoning or false practices occur in the company like using other’s data and details or ideas to enhance the company’s position then the person can claim the insurance in order to compensate the loss occurred.
Coverage 3: Medical Payments
If the non-employee person is injured during any sort business activity or the injury occurred in the premises of the company that is insured then the medical payment claim can be demanded without any legalityaccording to the commercial general liability insurance policy. The policy depicts that the claim can be demanded without any judicial proceedings that includes the payment for all necessary and reasonable medical emergencies.
CGL Insurance exclusion
When the worker of the company gets bodily injured then the commercial general liability insurance do not cover the payment of compensation of the worker. So in order to do cover this compensation the company needs to purchase the workers compensation and employment practices liability insurance. Similarly, CGL insurance does not cover the claim over pollution, liquor or damage due to false practices since all these categories are excluded. If the person wants to cover all these categories in terms of claim to the insurance then he should have to purchase different liabilities such as Liquor liability, Pollution Liability, Professional Liability and many more depending on the requirement or the risk related to the business or profession.